30 Apr 2015
World Bank lowered Ukraine’s economic forecasts
FXStreet (Mumbai) - The World Bank lowered its 2015 economic outlook for Ukraine from its earlier estimate of a 2.3% reduction in economic output, making the new forecast more pessimistic than the Ukrainian government's estimates, as well as the 5.5% decline in GDP expected by the International Monetary Fund.
Ukraine's economy had already contracted by 6.8% in 2014.
The World Bank said in its report:
"The conflict in the east has become the main driving force behind the fall."
"Ukraine has considerable potential, but its implementation is possible only if the situation in the east is stabilized and the banking system recovers."
"The top concern of investors is that they do not feel secure when they invest in this country because of corruption."
"External factors not directly under the government's control still have a substantial influence."
Ukraine's economy had already contracted by 6.8% in 2014.
The World Bank said in its report:
"The conflict in the east has become the main driving force behind the fall."
"Ukraine has considerable potential, but its implementation is possible only if the situation in the east is stabilized and the banking system recovers."
"The top concern of investors is that they do not feel secure when they invest in this country because of corruption."
"External factors not directly under the government's control still have a substantial influence."